The APAC Automotive Telematics Market, By Vehicle type (Commercial and Passenger), By Application (Infotainment, Safety, Navigation and Diagnostics), By Technology type (Embedded, Tethered and Integrated/ Smartphone) By Channel type (OEM and Aftermarket)and by Country (China, Japan, South Korea, India, ASEAN and Oceania) - APAC Forecast to 2030”, is expected to be valued at US$ 55,615.1 million by 2030, exhibiting a CAGR of 14.2% during the forecast period (2022-2030), as highlighted in a report published by Coherent Market Insights.
Automotive telematics is a method of monitoring vehicle by combining onboard diagnostics with a GPS system. In other words, telematics is a piece of technology of sending, receiving, and storing information using telecommunication devices. Telematics is used in many applications namely fleet management, vehicle tracking, intelligent vehicle technologies, auto insurance, container tracking, etc. Automotive telematics uses telecommunications integrated with informatics for application in vehicles and to control vehicles on the move. Moreover, GPS technology is integrated with computers and mobile communication technology in automotive navigation systems. Systems such as automatic driving systems, driving assistance systems, vehicular emergency warning systems, global positioning system (GPS) navigation, and wireless safety communication have been created by an automotive telematics system.
The APAC automotive telematics market was valued for US$ 17,080.4 Mn in 2021 is expected to exhibit a CAGR of 14.2 % during the forecast period.
Key Developments
- In January 2021, Qualcmm Technologies, Inc., a leading wireless tech innovator and General Motors (GM), an American multinational automotive manufacturing company announced the strategic partnership with the aim to deliver a premium experience to its upcoming vehicles launch. Through this relationship, Qualcomm Technologies is working with Gm to deliver power to digital Cockpit and next-generation telematics system, and advanced driver assistance systems (ADAS).
- In April 2021, Airbiquity which provide vehicle services has announced the expansion of technology collaboration with NXP Semiconductors. The NXP Semiconductors is a global semiconductor company creating solutions that enable secure connections for a smarter world this collaboration aims to pre-integrate and demonstrate secure, efficient, and scalable automotive software updates and data management for AI-based connected vehicles.
APAC Automotive Telematics Market - Impact of Coronavirus (Covid-19) Pandemic:
The uncontrollable spread of COVID-19 has a severe impact on automotive manufacturing, stirring uncertainty in the supply chain. Therefore, the decline in manufacturing due to the disturbed supply chain resulted in a stoppage in the automotive sales. Furthermore, vehicles with fully integrated telematics solutions such as automatic route scanning, electronic logging devices (ELDs), advanced driver assistance systems, and AI-based integrations resulted sharp decline. As a result, the demand for automotive telematics in the region has declined during Covid-19.
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https://www.coherentmarketinsights.com/market-insight/apac-automotive-telematics-market-3654
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Key Trends and Analysis of the APAC Automotive Telematics Market:
- The telematics industry is expected to bring major transformation in the automotive sector and introduce intelligent traffic systems in emerging economies such as India. This, in turn, will help in live traffic updates, real-time positioning, parking management, tracking, and reducing road accidents. Developed countries such as Germany and the U.S. have already implemented this technology, while the Indian automotive sector is expected to deploy this in the near future
- Consumers in the region are expected to prefer smartphones for using telematics solutions rather than telematics hardware. Chinese consumers prefer embedded solutions that come from the factory-installed in their vehicles. However, during the next seven years, the country’s motorists will increasingly embrace systems that are based on consumer electronics (CE) and wireless devices such as smartphones as these solutions are set to take the lead in the country’s telematics market by 2020.
- Automotive OEMs are laying emphasis on embedded telematics solutions that are affordable to common consumers. The embedded telematics market is expected to witness decrease in the average price in the near future and the trend is expected to continue during the forecast period. Though the price of embedded telematics is decreasing, it's still considered as an expensive telematics technology than tethered and smartphones.
- Automotive telematics industry is moving towards Big Data connectivity for robust and reliable information storage. For instance, Japan is planning a single national automotive big data platform from 2020. According to this plan, all vehicle-related information will be integrated into a single platform. The access to this data platform will be restricted. Government of Japan plans to charge fees to the public for accessing the data platform.
- Key players operating in the APAC automotive telematics market are Airbiquity, Denso Corporation, Panasonic Corporation, Clarion, Masternaut Limited, Continental AG, Qualcomm Technologies, Inc. LG Electronics, Harman International Industries, Inc., Trimble Inc., and I.D. Systems.
